on this news. The Government will get blamed and implored as usual that 'something-must-be-done.' Whatever it does, it will be interesting to see how little in published articles the few homes truths are ignored:
1. Education - We have created a huge amount of graduate over-supply. 73 Graduates applying for every job currently. The solution is less university places and less waste which the Government is actually doing, but it gets brickbats for this rather than praise. As for school education, a generation and more has been betrayed by low standards.
2. Immigration - These low attainment levels mean that people can come here from 3rd world countries and plausibly be better workers than our own people. A terrible state of affairs. One thing to try is to reduce immigration but this has proved challenging. Another would be to encourage people to take jobs and learn skills through reducing benefits - but this is not very palatable to hand-wringing types.
3. Age bias - the Government will do something to encourage young people into jobs, but in reality it is older people who need money to look after the young. Why should older workers by penalised? Is it really harder to get a new job at 19 than at 57? Addressing the lack of job demand and over-supply of labour through an age-based rationing system is grossly unfair.
4. Job Creation - UK Corporates are sitting on huge cash piles whilst they watch the Euro-maelstrom. meanwhile the Government is slowly cutting a few non-jobs away. To get more job we need more private sector investment which won't happen this side of the Olympics. To at least try and make it happen we could reduce taxes, but that will require a leap of faith in making further cuts to the Public Sector. Hand-wringing types will be frothing if they have read this far.
All in all, its a hard problem to which at least there are some clear answers, but because the answers are tough and divisive and not cute and cuddly there will be inaction. My estimate is youth unemployment will stay over a million for at last 2 years, possibly more as the population is continually boosted with young immigrants.